First Citizens Bank & Trust Co. lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA – Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,782 shares of the cable giant’s stock after selling 12,029 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Comcast were worth $3,520,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CMCSA. FMR LLC grew its position in shares of Comcast by 5.4% during the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after acquiring an additional 6,062,658 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Comcast by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,871,235 shares of the cable giant’s stock valued at $1,331,192,000 after purchasing an additional 416,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Comcast by 6.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,364,136 shares of the cable giant’s stock worth $1,268,310,000 after buying an additional 1,717,762 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Comcast by 5.4% in the third quarter. Ontario Teachers Pension Plan Board now owns 15,983,230 shares of the cable giant’s stock worth $667,620,000 after buying an additional 822,936 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Comcast by 4.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 14,918,501 shares of the cable giant’s stock valued at $623,146,000 after buying an additional 676,920 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $47.75 to $48.00 in a report on Friday, November 1st. Morgan Stanley downgraded Comcast from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $45.00 in a research note on Monday, December 16th. Loop Capital dropped their price target on Comcast from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Benchmark reiterated a “buy” rating and set a $60.00 price objective on shares of Comcast in a research report on Tuesday, November 19th. Finally, Macquarie reiterated a “neutral” rating and set a $42.00 target price on shares of Comcast in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.33.
Comcast Trading Up 0.4 %
Shares of NASDAQ CMCSA opened at $37.62 on Monday. Comcast Co. has a twelve month low of $36.15 and a twelve month high of $47.11. The business has a fifty day simple moving average of $39.31 and a two-hundred day simple moving average of $40.16. The firm has a market cap of $143.95 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14.
Comcast (NASDAQ:CMCSA – Get Free Report) last posted its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. Comcast’s revenue was up 6.5% on a year-over-year basis. Analysts expect that Comcast Co. will post 4.25 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, President Michael J. Cavanagh sold 25,537 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.
Comcast Profile
Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.
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